January 11, 2013

Faculty and staff who still have retirement funds with
TIAA-CREF should watch for a letter from the company next week. The letter will
be sent to the employee's home address and will announce lowered costs for
money invested with CREF.

When Fidelity Investments became Purdue's defined contribution
retirement plan administrator on Jan. 1, 2011, retirement plan fees were
unbundled, allowing for what Purdue believes to be a more transparent,
cost-effective and equitable fee structure. Participants generally pay
significantly less in administrative fees through the unbundled fee structure
in place with Fidelity.

While fees on CREF funds are still bundled, they will now be
lower than in the past. "We're very pleased to have worked out this new
arrangement that reduces costs for our faculty and staff," says Luis E.
Lewin, vice president for human resources.